... keep using them when they see the destruction it is causing? Many people, mostly younger folks and women, have so many credit cards they end up in severe debt and ruin their credit for many years to come. Credit card applications are mailed out by the tons and people keep activating them knowing the interest rate is or will be up to 20% or higher. Everyone needs at least one credit card and no more than two. You also need one revolving (department store) credit card to establish a good credit history. The limit on the credit card(s) should be no more than 10% of your annual salary and the revolving card half that. Always make a minimum of a double payment on all your credit cards and pay on the due date. Never ever be even one day late. The interest rate and late fees will destroy you. If you are experiencing problems the first thing you need to do is carefully cut the cards up and throw them away. If you can not afford to pay the total monthly bill attempt to get a ...
... online w/ equifax (the CRA reporting the collection account). Because of my recent changes in address, the online/phone methods fail to verify me, so i cannot order my credit report. Now I am supposed to mail in several pieces of POA to validate my new address. Before i do this, is it possible for the creditor or the collection agency to remove the account from my record? If so, i’d like to try it b/c at least i can talk to someone. I am only 22 years old w/ little but good credit history. I have one credit card (revolving credit since 2005) that i use frequently and pay off. I have almost no debt. Would the creditor/collection agency consider any combination of the following: - It was a medical bill for $108- i thought my insurance (from university or my company) would have covered it. - the hospital visit was Employment related and reimbursable by my company. Had I been given the bill right away, I would’ve paid it. - I was overseas and never ...